Terrence Gallagher, formerly executive vice president and controller, was promoted to vice president and CFO, Anadigics (Warren, N.J.) said.

Shields agreed to provide consulting services to Anadigics for a period of time to ensure an orderly transition of all of his current responsibilities, Anadigics said.

"I have great respect and fondness for Anadigics, its shareholders, board of directors and employees," Shield said in a statement. "I want to thank all of you for being part of my life, and for allowing me to be part of yours, for the past 12 years."

"On behalf of our shareholders, I am committed to working closely with the entire Anadigics management team to return our business to profitability," Gallagher said.